Consumer sentiment in the U.S. improved by slightly less than initially estimated in the month of October, the University of Michigan revealed in a report on Friday.
The report said the consumer sentiment index for October was downwardly revised to 100.7 from 101.1 but is still up from 95.1 in September. Economists had expected the index to be downwardly revised to 100.9.
"Consumer sentiment slipped ever so slightly in late October, despite remaining at its highest monthly level since the start of 2004," said Richard Curtin, the survey's chief economist.
The current economic conditions index surged up to 116.5 in October from 111.7 in September, while the index of consumer expectations jumped to 90.5 from 84.4.
On the inflation front, one-year inflation expectations tumbled to 2.4 percent in October from 2.7 percent in September, while five-year inflation expectations were unchanged at 2.5 percent.
by RTT Staff Writer
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